FX.co ★ EUR/USD - key level of 1.31 - for March 06, 2013 (daily strategy)

The euro does not leave the range between 1.2970 and 1.3070. It appears to be unchanged and is trading back around the psychological level of 1.30, while waiting for some strong data that allows it to jump to the area of 1.31. It is likely that before a new bearish movement this pair tries to break 1.3101 level. On the other hand, if the pair closes above 1.31, it will drive you to the nearest resistance of 1.3235. If during today's session, the pair reaches the level of 1.2970, you can buy this pair with the objectives outlined in the chart. On the other hand, the 200 day moving average is at 1.2883, indicating that the long-term uptrend has not been lost. Therefore, any price near this level should be considered as an opportunity to buy this pair.

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